Health care industry executives’ understanding of the need to collaborate and the challenges they face in working together are explored in a new report from Quintiles based on a global survey of biopharmaceutical, payer and provider executives.
The Collaboration Mandate is the first in a series of three thought leadership publications based on independent surveys of more than 300 healthcare executives in the US, Italy, France, Germany, Spain and the UK. The series expands upon Quintiles’ annual New Health Report, released over the past three years.
“Stakeholders are moving closer to operating as a system in which aligning goals and integrating data will improve their probability of success,” said John Doyle, Dr.P.H., senior vice president and managing director, Consulting at Quintiles. “Two-thirds of executives expect to forge long-term agreements with payers, and nearly 80 percent of executives anticipate strategic alliances with health care systems in the next three to five years. This promise of an interconnected system will help stakeholders achieve the triple aim—enhancing a patient’s health care experience; improving health at the population level; and reducing the cost of health care.”
Among the insights , The Collaboration Mandate found:
- Payers, providers and biopharma agree they need to be better aligned with other stakeholders in the health care industry, yet they have made little progress to date toward this goal. Only 16 to 19 percent of survey respondents said they were “mostly aligned” with other stakeholders, while one-fourth say they are “not very” or “not at all” aligned.
- More than 70 percent of all stakeholders believe transparency around data sources and information sharing across stakeholder groups is “very important” or “critically important” to the success of an interoperable health care system. Yet a large percentage of respondents are unwilling to be transparent. US payers and providers gave their own segments of the industry the highest marks—54 percent and 51 percent respectively said they were “extremely” or “very willing” to be transparent, compared to 37 percent of biopharma and just 18 percent of EU payers.
- More than 8 of 10 biopharma executives and 99 percent of payer executives in the US feel that increased engagement with providers and health systems will be beneficial to their organization.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts